Zerin Properties: The First Real Estate Agency to Comply with BNM AML/CFT Requirements Using HaloCheck.xyz
Zerin Properties adopts HaloCheck.xyz to comply with Bank Negara's AML/CFT requirements. Zerin Properties adopted HaloCheck.xyz, the country’s first instant background check mobile web app, in compliance with Bank Negara Malaysia's (BNM) AML/CFT requirements (for anti-money laundering and countering financing of terrorism).
In these extraordinary times, contactless interaction is the new normal. This week, Zerin Properties, Asia’s award-winning real estate agency, announces its adoption of HaloCheck.xyz, Malaysia’s first instant background check mobile web app.
HaloCheck has simplified the BNM AML/CFT process. In less than 2 minutes, all Zerin Properties agents can meet compliance and conduct Customer Due Diligence (CDD) to BNM’s strict requirements.
Real estate agents and other Designated Non-Financial Businesses and Professions (DNFBPs) are the primary targets for money laundering and terrorism financing (ML/TF) activities. Due to the nature of their work, professionals in these industries deal with large amounts of money and properties. The movement of these large sums makes it easier to mask and hide illegal activities making DNFBPs the most appealing targets to exploit for money laundering.
Zerin Properties have offices across the country and an international branch office in London. The agency is strengthening its due diligence processes and has chosen HaloCheck.xyz to help them comply with BNM AML/CFT requirements.
Zerin Properties was the first real estate firm to fully embrace the Internet. They continue to set precedence by being the first to adopt e-KYC technology into their CDD processes.
“We actually got an opportunity to use technology as an avenue to comply with what Bank Negara requires and to satisfy all our clients’ requirements,” said Previndran Singhe, Founder, Managing Director, and CEO of Zerin Properties. “That is the main reason we went with HaloCheck(.xyz). It’s a far cry from what we used to do before, so this has really made our job much easier. I think the level of trust is definitely what customers want and by virtue that we can get this (done) quickly, safely, reliably, I think the customers are very comforted.”
Moving into the digital space has the added benefit of increasing speed and efficiency, and reducing carbon footprint. In one well-thought move, Zerin Properties have pushed ahead of their peers on multiple fronts.
"We are very happy that Zerin Properties chose our e-KYC and Instant Background Screening technology to help them meet BNM AML/CFT requirements," says Mark Leow, Founder and Managing Director of HaloCheck.xyz. "Complying with AML/CFT doesn't have to be complicated. Professionals don’t have time to waste so, we designed a fast, easy, reliable solution. Now, meeting compliance takes less than 2 minutes - from signing up to completing a check. Customers can identify and verify their clients from their mobile or desktop browsers anytime, anywhere. Working with forward-thinking companies is always a pleasure. We hope to collaborate with more like-minded businesses moving forward.”
For more about HaloCheck.xyz, visit www.halocheck.xyz, or @halocheck.xyz on Instagram, Facebook, and LinkedIn.